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Caterpillar Profits Soar Fivefold

Sales climbed 57% to $12.95 billion.

Caterpillar, the world's largest heavy equipment maker, said on April 29 that profit soared fivefold in the first quarter, boosted by strong demand.

Caterpillar said it had "record" profit for the first quarter of $1.22 billion, an increase of 426% from $233 million over the same period a year ago.

Earnings per share hit $1.84 -- "an all-time quarterly record and a 41% improvement" from 36 cents EPS in the first quarter of 2010.

Sales climbed 57% to $12.95 billion.

Copyright Agence France-Presse, 2011

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